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[QUOTE]Originally posted by oldseven: [QB] Big, YOU are correct! I have no idea what I am doing. My only background is the little I have been reading on the internet. From what I have read and notes I have taken, I thought I was doing everything correctly. I DO NOT want to be doing anything to get in trouble. Day Trading - Buying and selling in the same day. I would like to do this for some, buy also hold some for a few days or weeks. Pattern Day Trader - Buying & selling a particular security in the same trading day at least four times in a five-day period and are at least 6% of the personís trading during them same five days. I would like them to be at least 6%. Margin Account - Using a brokers funds to buy and sell securities. My funds are backed by cash deposits before the purchases are made. T +3 - I must settle up my transactions with my brokerage within 3 business days. I have a cash deposit account that I assume pays for these transactions immediately. Round Trip Trading - Isnít this what Enron Did? Buying the same stock 3 times in one day, then selling in the same day(3 different times). This can only be done 3 times unless you have $25,000 in your account. I did go to your link and It seems I understand these definitions correctly- but maybe I do not. [/QB][/QUOTE]
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